The four federal taxes that together accounted for 88 percent of all federal government tax receipts in 2013 were:
A) individual income tax, corporate income tax, property tax, and sales tax.
B) corporate income tax, national consumption tax, estate tax, and social security tax.
C) individual income tax, social security tax, corporate income tax, and Medicare tax.
D) social security tax, Medicare tax, estate tax, and corporate income tax.
E) none of the above
C
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Spending on the war in Afghanistan is essentially categorized as government purchases. How do increases in spending on the war in Afghanistan affect the aggregate demand curve?
A) They will shift the aggregate demand curve to the right. B) They will move the economy up along a stationary aggregate demand curve. C) They will move the economy down along a stationary aggregate demand curve. D) They will shift the aggregate demand curve to the left.
Diet Coke is a close substitute for Diet Pepsi. When Coca-Cola introduced Diet Coke in 1982, the price elasticity of demand for Diet Pepsi ________ and PepsiCo's ability to raise revenues through price increases ________.
A. decreased; was reduced B. increased; was reduced C. had no effect; was reduced D. increased; increased
A rise in stock prices ________ the net worth of firms and so leads to ________ investment spending because of the reduction in moral hazard
A) raises; higher B) raises; lower C) reduces; higher D) reduces; lower
Which of the Fed's instruments is most frequently used?
A) Changing reserve requirements B) Open-market operations C) Changing the discount rate D) Changing margin requirements for the stock market